A normal mortgage having fun with Federal national mortgage association or Freddie Mac computer guidelines have a tendency to will let you make use of IBR fee getting qualifying. One another Fannie and Freddie features step 3% down payment apps readily available. The greatest difference in FHA and you may Old-fashioned would be the fact FHA allows you to definitely carry significantly more credit card debt, which is constantly a reduced rate and you can commission whether your credit score was lower than 700.

If you want, current email address myself in the and i also renders an introduction to somebody which i understand and you will believe.

I'd love some assistance. I'm focusing on buying a property and that i do not have a great credit score and therefore we have been going FHA. My IBR is actually 478 thirty day period and you will my earnings is 77000 yearly. My personal almost every other costs was a total of 1066 in addition to 478 off my personal IBR.